Not at all. Electricity is a commodity. Anyone on earth is free to exchange their electricity for Bitcoin at a mathematically predictable rate, set by the computer program that issues Bitcoin. Why the first people would want to do this is immaterial, but today many people do. And because many people do, the relative valuation of Bitcoin vs electricity is maintained (there is a market price for Bitcoin vs Electricity). This is both your basic peg to the physical universe and your initial basic utility use case. Bitcoin and electricity can be exchanged for computation, and computation is perhaps the most valuable resource in the coming millennium.
Discussion
Fiat can also be exchanged for electricity, Bitcoin, compute-time, etc
Your challenge is to explain why Bitcoin has value and fiat in some fundamental sense does not (or will not)
So just pointing to the nonzero market value at present doesn't advance your case unless you intend to defend fiat as well, which currently shares nonzero market value
Of course fiat has value. Is that even a question? The protection of the American Empire proved more valuable than the assurances of non-sovereign money. The destabilization of the rest of the world created a demand for the debt notes of the Empire. A strategic arrangement with Saudi Arabia created further demand. The threat of violence that will be visited on you if you don’t pay your taxes creates further demand. On top of all of this, it’s pretty easy to spend fiat in tiny denominations for coffee, or large denominations via wire transfer. It’s relatively easy to track with double entry accounting systems. And if you can get legal permission to manufacture this currency in the form of credit, you can actually acquire material goods as well as power and influence with those tokens. If you and I don’t, someone else will. Then they will use that power and influence to rule us.
Now, that may not be a fair game; indeed, it’s extremely rigged. But that didn’t stop those playing that game from literally conquering the world with it. It was the better tool for conquest and power, and it was used to those ends.
Fighting against this reality has been futile - it’s a self-powering flywheel. The fiat monopolists print the money that gives them the power to hire the violence to enforce the monopoly, and around again we go. Participating in this system is less an empowering choice and more a survival instinct.
Subjectively, people value the life they can live participating in this system more than the life they will live trying to fight it. Survival and conflict avoidance is a perfectly rational impulse.
Successfully fighting this Empire is impossible with outdated technology. You’re not resisting this tyranny with shells and bow and arrow, or even gold and gunpowder. The Leviathan got the upper hand technologically in the 20th century.
While it is not yet certain, it is my hope that the balance of power shifts away from tyrants and empires in the 21st century, enabled by the radical defensive technologies of encryption and Bitcoin.